New member/investor in Massachusetts (New Bedford)

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New member/investor in Massachusetts (New Bedford)

Michael CuttingPro Member
South Dartmouth, MA · Member since 2013 · 10 posts · 11 votes

Hi BP!

Been devouring the podcast over most of the past year as I've tried to absorb as much as possible about real estate investing, and figure its time I stop lurking and start being active on the forums! I reside in Watertown, MA, but spend a lot of time down in the New Bedford/South Dartmouth, MA areas (where the fiance grew up) and that's where I intend to keep my primary focus as I try to get that first deal under my belt and become a real investor.

I've always been intensely interested in personal finance and have come to realize in the past couple years that what I really desire is financial independence. Found my way to BP late last year as I researched location agnostic/passive income, and set about educating myself through the BP podcast and blog as well as all the real estate investing books I could get my hands on.

Goals on BP: I'm hoping to further my real estate investing education by (finally!) becoming engaged on the forums, and I hope to do some networking with more experienced folks in MA and specifically the Boston/Metro-West/South Coast areas. Also hoping this leads to connections to real estate professionals that I can work with such as property managers, agents, attorneys and tax advisors, and GCs/rehab professionals.

Long term REI goals: I hope to acquire a large enough buy & hold portfolio to replace my current W-2 income, freeing myself and my future family of geographical constraints so we can live and travel around the world as we please. I really enjoy being outdoors and on the water, and hope to live in Hawaii someday, so my investing will be with that end goal in mind! I'm also interested in the idea of community improvement/revitalization through real-estate investing, and hope to generate some value in this manner for places like downtown New Bedford.

What I can offer BP: from the networking/investing perspective, I could bring access to capital/funding to a partnership. Otherwise, until I''ve got more experience, I bring a friendly smile!

Thanks, BP! Excited to be here!

- Mike

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Most Popular Reply

Justin J.
Rental Property Investor · Durham NC · Member since 2014 · 29 posts · 9 votes
12y

@Michael Cutting Welcome to Biggah Pockets! I have the same goal in mind: being able to travel the world and not have a full-time job, while my real estate portfolio takes care of my financial future. =]

-Justin

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  • Johnny Aloha
    Investor · Charleston, SC · Member since 2013 · 106 posts · 18 votes
    12y

    Welcome!

    0Reply
  • Mehran K.
    Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
    12y

    Big Welcome to the site @Michael Cutting, thanks for introducing yourself to the entire community! Your long term REI goal resonates well with me, as that's my current goal as well :)

    Look forward to having you as part of the community and I'm excited to watch you grow as an investor. See you around Michael!

    0Reply
  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    12y

    Welcome to BP community @Michael Cutting  It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you:

    Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet

    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

    If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select that person below. He or she will be notified of being tagged so that the conversation will continue.

    Wishing you the best! 

    0Reply
  • Michael CuttingPro Member
    OP
    South Dartmouth, MA · Member since 2013 · 10 posts · 11 votes
    12y

    @Johnny Aloha Fitting that you should be the first to welcome me - thanks! Glad to see the keyword alerts that are discussed so frequently on the podcast work so well.

    @Mehran K. Thanks for the welcome! Always was curious how people knew how to tag their fellow BP members in the posts so easily.

    1Reply
  • Shaun Reilly
    Landlord and Rehabber · Newton, MA · Member since 2010 · 2k+ posts · 877 votes
    12y

    Hi Michael, welcome to BP.

    This is a great place to learn. Make sure to listen to all the BP podcasts, read the articles on the main blog and be active in these forums to learn a ton very quickly about any topic in real estate you want to know more about.

    This is also a great place to meet people that can be assets to your business. Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.

    Besides doing that on here make sure to get out to some of the many local investor events we have. If you want to meet people in Boston and Metro West check out the Black Diamond meetings in both Waltham and Worcester. You can also check out the Boston Area REIA in Medford. Since you are looking to invest on the South Coast there are several meetings South of Boston. The Eastern Mass REIA has meetings in Rockland and Taunton, there is a meetup in Plymouth and also the South Shore REIA on the Cape. If you want to expand your horizons there are many North as well, a personal favorite the NEREIA in Chelmsford is tomorrow (Wed 8/6) at 6:30/7:00 networking/meeting.

    I think you have a sound strategy of going to the New Bedford area if you want passive cash flow.  There are good reasons to buy places closer to Watertown, but good initial cash flow isn't usually one of them.:)  I'd caution you to be careful and do some research if you didn't know the area, but since you sound like you are down there a lot and your fiance and her family are from there you should be able to figure out the good and really bad areas easy enough.

    0Reply
  • Joshua Dow
    Real Estate Professional · Griswold, CT · Member since 2014 · 46 posts · 17 votes
    12y
    Welcome to BP! This site has everything you could think of needing for real estate investing and more. I am from CT about 40 mins from MA border. Any questions feel free to ask!
    0Reply
  • Mehran K.
    Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
    12y

    @Michael Cutting Awesome man! Can't wait to hear you on the podcast.

    0Reply
  • Justin SilverioPro Member
    Developer · Andover, MA · Member since 2008 · 1k+ posts · 489 votes
    12y

    Welcome to BP @Michael Cutting .  I'm sure the price point in New Bedford is much better than that in Watertown.  Multi's around the city are very expensive and there is a ton of competition.

    It looks like you're getting a lot of good advice from people already. Stay active on BP and start getting out to some networking events (if you haven't already). I'll be speaking tonight at the Chelmsford REIA that @Shaun Reilly mentioned above.  The topic is How to Build a Real Estate Business on Top of Your 9-5.

    Podcast Guest on Show How to Easily Find Off-Market Properties (No Experience Required!)
    0Reply
  • Paul Timmins
    Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    12y

    @Michael Cutting 

    Welcome. Fill in the foundation below.

    Check out the Start Here page http://www.biggerpockets.com/starthere

    Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

    Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 70 past ones to catch up on.

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers. Rockland and Taunton next meetings in Sept go to MyEasternMassREIA.com Plymouth @Mike LaCava has info there is also one one the Cape SouthShoreREIA.com

    Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

    In addition to the areas cited Fall River is good check for special assistance from the local government for acquiring.

    You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

    Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

    http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

    Good Luck

    Paul

    0Reply
  • Justin J.
    Rental Property Investor · Durham NC · Member since 2014 · 29 posts · 9 votes
    12y

    @Michael Cutting Welcome to Biggah Pockets! I have the same goal in mind: being able to travel the world and not have a full-time job, while my real estate portfolio takes care of my financial future. =]

    -Justin

    1Reply
  • Michael CuttingPro Member
    OP
    South Dartmouth, MA · Member since 2013 · 10 posts · 11 votes
    12y

    Wow - quite the welcome party!

    @Shaun Reilly Really appreciate you reaching out, Shaun - I very clearly remember listening to the podcast when you were a guest and being distinctly impressed by your success, especially since I've lived and worked in this area for many years now! Thanks to you,  @Justin Silverio and @Paul Timmins for the REIA recommendations - that's exactly why I decided to start being active, and one of the first messages I got was from @William Vaquerano regarding Justin's event in Chelmsford tonight (and I'm going to try to get out of work early enough to make it!). Also had heard about the Black Diamond Real Estate Investors meetup from listening to the podcast so was planning on making it to the Waltham and/or Worcester meetings later this month, so great to hear so many recommendations about that.

    2Reply
  • Ann Bellamy
    Lender · Tyngsboro, MA · Member since 2009 · 3k+ posts · 2k+ votes
    12y

    Welcome, @Michael, look forward to meeting you either tonight at Chelmsford or in Worcester or Waltham.

    0Reply
  • Michael CuttingPro Member
    OP
    South Dartmouth, MA · Member since 2013 · 10 posts · 11 votes
    12y

    @Justin J. and @Joshua Dow , thanks for the warm welcome!

    0Reply
  • Mike LaCava
    Real Estate Investor · Buzzards Bay (Bourne), MA · Member since 2012 · 208 posts · 28 votes
    12y

    Welcome @Michael Cutting . We run a meetup 4th Thursday of each month in Plymouth. Come by and say hello. www.houseflippingschool.com/meetup

    All the best in your new venture in Real Estate. You have some great people here on BP giving you some great advice. 

    0Reply
  • Account Closed
    Real Estate Investor · Los Angeles, CA · Member since 2014 · 143 posts · 29 votes
    12y

    @Michael Cutting - Welcome!

    I have nothing to add, except: I grew in NH, my mom is from Melrose, and this was one of the funniest threads I've seen! Biggah Pockets!

    Andrew

    0Reply
  • Mike HurneyPro Member
    Real Estate Investor · Boston, MA · Member since 2009 · 2k+ posts · 542 votes
    12y

    @Michael Cutting Welcome.  I think Southeastern Massachusetts has a lot of opportunities and is not as tough for market entry.

    0Reply
  • Elizabeth Colegrove
    Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
    12y

    @Michael Cutting 

    Welcome to Biggerpockets

    Real Estate is also our early retirement plan. My husband is active duty so we move around a lot. We long distance self manage our class A properties. We got started by renting out our personal property when we leave. Now we supplement that with other pure rentals. We have done very well buying depressed houses. I know that market has been drying so I am not sure how much longer it will be around.

    This is an amazing site because everyone has a different niche they exploit. So definitely check out the signature of those who's info you enjoy. Many of us have websites that talk about our niche, business, plan and strategy, mine is about long distance land lording and renting out your first place etc.

    In addition to the blogs, podcasts and forum. Definitely check it out!

    Welcome Again

    0Reply
  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    12y

    Hey @Michael Cutting thanks for jumping in and introducing yourself! If you haven't yet- be sure to setup some "Keyword Alerts" to get into conversation in your target area.

    Seeya around!

    Podcast Guest on Show #92
    1Reply
  • John Armando
    Dartmouth, MA · Member since 2016 · 40 posts · 10 votes
    10y

    Hey @Michael Cutting, awesome to read your post. My fiancee and I are actually thinking about the same thing. We live just outside of Boston and work in the city currently, but we both grew up in South Dartmouth, and know the NB/Dartmouth area very well. After looking to get started in REI in the Boston area, we've realized the competition for starting investors in Boston seems too competitive and challenging to find good properties that generate passive income, but in NB it seems much more feasible. Plenty of family and friends have done investing in the area and own several multi-families in NB. From what I've gathered the biggest issue in NB is finding good tenants!! It'd be great to grab a coffee sometime and chat. We are in a similar boat and trying to absorb as much as possible, and BP is a fantastic resource!

    0Reply
  • Jason S Silva
    Real Estate Investor · South Dartmouth, MA · Member since 2016 · 3 posts · 2 votes
    10y

    I am very surprised how many people on the forums are from the Dartmouth/NB area.

    That being said it seems like there are some good opportunities in the area with a reasonable price of entry. Good luck in you ventures.

    0Reply
  • Charles Marshall
    Hingham, MA · Member since 2015 · 78 posts · 21 votes
    10y

    I grew up in the NB area and have a lot of friends and family in the area. I've been thinking that the South Coast is a good opportunity for investment. 

    0Reply
  • Lumarys Montijo
    Real Estate Agent · Attleboro, MA · Member since 2016 · 2 posts · 0 votes
    9y

    Welcome to BP @Michael Cutting

    0Reply
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